Hey I have a question I need to know how to put these formulas into Microsoft Excel 2007 but I do not understand how to do that. Could you please run me through how I am suppose to put these in there! I could send you the Excel document that I have if you would please help me with it. I have been stuck on this for a couple days now. Thank you so much!
1.Enter the following formulas to determine the gross pay in column F and the federal tax in column I as follows:
a. In cell F4, enter the IF function that applies the following logic and then copy it to the range F5:F10.
If Hours <= 40, then Rate * Hours, otherwise Rate *Hours + 0.5 * Rate * (Hours – 40)
b. In cell I4, enter the IF function that applies the following logic and then copy it to the range I5:I10.
If (Gross Pay – Dependents * 38.46) > 0, then 20% * (Gross Pay – Dependents * 38.46), otherwise 0
2. An employee pays Social Security tax only if his or her YTD Soc. Sec. in column E is less thatn the Maximum Social Security in cell B15. Use the following logic to determine the Social Security tax for Haley Jenkins in cell G4 and then copy it to the range G5:G10.
If Social Security Tax * Gross Pay + YTD Soc. Sec. > Maximum Social Security, then Maximum Social Security – YTD Soc. Sec., otherwise Social Security Tax * Gross Pay
Use absolute cell reference for the Social Security Tax and Maximum Social Security values.
3. In cell H4, enter the following formula and then copy it to the range H5:H10:
Medicare = Medicare Tax * Gross Pay
Use absolute cell references for the Medicare Tax values
4. In cell K4, enter the following formula and copy it to the range K5:K10
Gross Pay – (Soc. Sec. + Medicare + Fed. Tax + State Tax)
5. In cell L4, enter the following formula and copy it to the range L5:L11
(Soc. Sec. + Medicare + Fed. Tax + State Tax) / Gross Pay
1.Enter the following formulas to determine the gross pay in column F and the federal tax in column I as follows:
a. In cell F4, enter the IF function that applies the following logic and then copy it to the range F5:F10.
If Hours <= 40, then Rate * Hours, otherwise Rate *Hours + 0.5 * Rate * (Hours – 40)
b. In cell I4, enter the IF function that applies the following logic and then copy it to the range I5:I10.
If (Gross Pay – Dependents * 38.46) > 0, then 20% * (Gross Pay – Dependents * 38.46), otherwise 0
2. An employee pays Social Security tax only if his or her YTD Soc. Sec. in column E is less thatn the Maximum Social Security in cell B15. Use the following logic to determine the Social Security tax for Haley Jenkins in cell G4 and then copy it to the range G5:G10.
If Social Security Tax * Gross Pay + YTD Soc. Sec. > Maximum Social Security, then Maximum Social Security – YTD Soc. Sec., otherwise Social Security Tax * Gross Pay
Use absolute cell reference for the Social Security Tax and Maximum Social Security values.
3. In cell H4, enter the following formula and then copy it to the range H5:H10:
Medicare = Medicare Tax * Gross Pay
Use absolute cell references for the Medicare Tax values
4. In cell K4, enter the following formula and copy it to the range K5:K10
Gross Pay – (Soc. Sec. + Medicare + Fed. Tax + State Tax)
5. In cell L4, enter the following formula and copy it to the range L5:L11
(Soc. Sec. + Medicare + Fed. Tax + State Tax) / Gross Pay
